What is a SWOT Analysis?

 SWOT Analysis 

What is it?

SWOT looks at two perspectives - internal and external.

Internal deals with a company's strengths and weaknesses.  These are the things your company is doing well in and things that might be holding you back.  They can range from your product/service offering all the way to HR and your talent pool.

External deals with opportunities and threats your company is going to encounter.  Opportunities could be a change in the economy that allows your company to take advantage or it could be offering a wider arrange of products.  Threats are anything that is going to affect your company which can include competition or not having the resources to utilize an opportunity. 

SWOT analysis are meant for a company to get real with themselves and their organization to lay out what's going on.  It provides a wide enough overview to get in tune with your company and forecast changes that need to be made. 

Below is a blank copy for you to give it a try!

 

#MarketingMondays

4 Social Media Sites You Should be Using For Your Internet Marketing

73% of the U.S. population has a social media profile.  That’s a lot of people.  Social media marketing gives you another medium to measure and track your leads.  It gives you a way to talk to your customer (and your potential customer!)

The most important thing a business needs to remember about social media marketing is that it is customer based, meaning you and your information are one of many a user will see in a day. 

The content you generate should be informative and something of value to whomever reads it.  Users already know you're in business with a product to sell.  It's important to take the focus off of you and onto them.  How can you make your company of value to a potential customer? 

*Look out for more on content creation further down the line*

 Here are the 4 social media sites that you can start your internet marketing strategy with (in our opinion):

1. Facebook – Facebook is the most popular social media site and with good reason.  Facebook is equipped with its own analytics software which gives you real time insight to how well your followers engage with your content. Facebook also lets you pick your target market when you create an ad.

The way it works:  If someone likes what they see from you, they can share it on their feed to their friends.  This is great exposure that only took one person! 

2. Twitter – Twitter is a great way to share quick updates with your followers.  Twitter ads operate in the same manner as Facebook which allow you to pick your target audience.  Twitter has a 140 character limit, so it is important to post shareable quality.   Users have the option to retweet, which is resharing your tweet to their followers.

The way it works:  Your followers will favor or “retweet” what you tweet and this then appears on their time line to their followers.  It has the same sharing idea as Facebook which means you’re reaching more people without doing the work!

3. Instagram – Instagram is the photo sharing app we all love.  Pictures paint a thousand words, and Instagram lets that happen.  Businesses primarily use Instagram as a way to connect and engage with customers.  It allows a company to get “personal” with their followers.  

The way it works: Your followers will see your pictures in their feed.  Hash tagging (a way to organize content on the internet) is the primary method of how users connect with new accounts.

4. Pinterest – Pinterest announced they have a network of 100 million people!   Many people use Pinterest for ideas and inspiration so having your company on there as an option is huge. 

The way it works:  Pinterest is infamous for its “Pin it” feature which allows companies to add the button to their website or content.  When a user goes onto your site and likes it enough, they can “pin it” to their Pinterest board which is viewed by everyone.  

Happy sharing!

Introducing Marketing Mondays + Basic Marketing Q's

A lot of the companies that come through our doors at Incutate are startups and small businesses who need professional resources and marketing is one of them. 

Marketing can be a pretty overwhelming thing, so we wanted to create a consistent marketing resource for those who are looking to start their marketing plans, or need to get familiar with some newer concepts. 

This week, we're going to get our feet wet with some simple marketing questions.  Remember, add yours if you have them!

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What Is Marketing?

• Marketing helps create awareness for a product, service, idea – you name it

How Is It Done?

• A lot of different ways!  Print media, advertisements, video, social media, networking, word-of-mouth…

What is the Best Way to market?

• There isn’t a one size fits all kind of marketing plan.  Each product and service has something unique to offer and it’s important to create the marketing plan that fits it

How much such I expect to invest?

• Budgets tell all! Social media is a popular cost effective way to get the word out there.  You don’t have to pay to have a Facebook or a Twitter and say if you did decide to run an ad campaign on Facebook, you can spend as little as $40 for two weeks. *

*More on that another week

How do I get started?

• Write a marketing plan!*

* Watch out for a downloadable template to help you get started!

Should I be on Social Media?

• YES

How to I create Content for Social Media?  Does it actually Work?

• You have a short amount of time to capture the attention of someone online.  Content helps keeps your followers engaged and helps you get free exposure when they share something they really like from you! 
• How to create content varies.  It can come in different mediums (blog posts, videos, pictures) but really should relate to your niche.  Take a look at these companies really doing their thing.